Mt Gordon mine to reopen rebadged as Capricorn Copper

Posted December 11, 2015

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The Mayor of Mount Isa aid he was delighted to hear of the proposed plans for the Capricorn Copper Mine, formerly Mt Gordon (Gunpowder).

Cr Tony McGrady said the reopening of the Capricorn Copper Mine by Lighthouse Minerals (LHM)

and EMR Capital (EMR) would mean jobs and regional growth and development for the North West.

“This is a most welcome development, adding to the positive news of the existing copper smelter life extension and the Mount Isa-Tennant Creek gas pipeline. This is the kind of news that we wait patiently for through the down times,” Cr McGrady said.

“I commend LHM and EMR on their tenacity and foresight. This development has a positive impact on the outlook for employment and local business within the region.”

Capricorn Copper CEO Carl Hallion said the Capricorn Copper Mine, which has been in care and maintenance mode for two years, was jointly acquired by the two companies, with the sales agreement executed and announced in September this year.

Mr Hallion said Capricorn Copper had commenced a period of technical studies expected to last for the next six to eight months, after which time a decision will be taken to move into the refurbishment phase expected to take a further 10 to 12 months leading to a restart of operations at the mine.

“Once into full production Capricorn Copper is expected to be a long life asset producing approximately 30ktpa of copper in concentrate and is expected to create around 200 to 230 direct jobs for the region as well as support local business,” Mr Hallion said.

The team at Capricorn Copper are no strangers to Mount Isa and surrounding region, with former Xstrata General Manager Myles Johnston commencing as the COO in 2016, and Adam Beswick as site GM, both having a long history in the region with Xstrata’s Mount Isa and Ernest Henry operations.

Mr Hallion said Capricorn Copper’s acquisition and strategy to restart operations at the mine had been well received by regional stakeholders, local and state government, and other industry bodies.

“This support and the experience and strength of the team behind Capricorn Copper will help ensure we meet our goal of commencing production by mid-2017,” Mr Hallion said.

One response to “Mt Gordon mine to reopen rebadged as Capricorn Copper”

  1. Rema TipTop says:

    Great news for local business and service industry, along with the Glencore Copper Smelter life being extended, we can look to the future with some optimism.

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